Winsor Bishop 39 London Street Norwich NR2 1HU

Winsor Bishop
39 London Street
Norwich
NR2 1HU

Freehold Retail Investment

Entirely let to Winsor Bishop Limited
Recently renewed lease on a rebased rent
Grade II Listed attractive period building
The tenant has traded from London Street since 1834
Central location within Norwich's historic core, very close to Norwich Castle
Nearby occupiers include Toni & Guy, Costa, Greggs, Timpson and Boots

Lot
14
Auction
18th May 2022
Rent
£49,000 per Annum
Status
Sold
Price
£750,000
Auction Venue
Live Streamed Auction

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Freehold Retail Investment

Entirely let to Winsor Bishop Limited
Recently renewed lease on a rebased rent
Grade II Listed attractive period building
The tenant has traded from London Street since 1834
Central location within Norwich's historic core, very close to Norwich Castle
Nearby occupiers include Toni & Guy, Costa, Greggs, Timpson and Boots

Lot 14
Auction 18th May 2022
Rent £49,000 per Annum
Status Sold
Price £750,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 45 miles north of Ipswich, 61 miles north-east of Cambridge
Roads: A11, A47, A140, A146
Rail: Norwich
Air: Norwich Airport

Situation

Norwich is the only Cathedral City in Norfolk and acts as its County Town, with a population of 141,300. Norwich is located 45 miles north of Ipswich, 61 miles north-east of Cambridge, 73 miles east of Peterborough and benefits from regular rail services to London Liverpool Street (1 hour 50 minutes). The property is located on the north side of the pedestrianised London Street between Swan Lane and Bedford Street within the Norwich City Centre Conservation Area. Nearby occupiers include Toni & Guy, Costa, Greggs, Timpson and Boots.

Tenure

Freehold.

Location

Miles: 45 miles north of Ipswich, 61 miles north-east of Cambridge
Roads: A11, A47, A140, A146
Rail: Norwich
Air: Norwich Airport

Situation

Tenure

Freehold.

Description

The property comprises an attractive Grade II Listed building providing ground floor retail premises with showroom at first floor level and ancillary accommodation on the second floor. Additionally there is a basement level providing ancillary/ storage accommodation.

No 39 has historically been used in conjunction with the adjoining unit No. 41-43 London Street (which does not form part of this sale) and some of the party wall has been partially removed. Further details are available within the legal pack.

VAT

VAT is applicable to this lot.

Completion Period

6 Week Completion Available.

EPC

A copy of the EPC is available within the legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

6 Week Completion Available.

EPC

A copy of the EPC is available within the legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Ground Basement First Second	Retail Ancillary Showroom Ancillary	86.20 71.72 71.12 49.90	928 772 765 537	Winsor Bishop Limited (1)	10 years from 07/11/2020 until 06/11/2030 (2) (3)	£49,000 (4)	07/11/2025
Totals		278.94	(3,002)			£49,000

(1) https://www.winsorbishop.co.uk/ For the year ending 31st March 2020, Winsor Bishop Limited reported a turnover of £10,530,000, pre-tax profits of £1,340,000 and a total net worth of £4,180,000. (Source: NorthRow Company Report 26/04/2022)
(2) 10 year renewal lease from 7th November 2020.
(3) 2025 break clause recently removed by way of Deed of Variation.
(4) Rent rebased from historic levels.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.